The global market for higher education is changing with the world now seeing a large mobile body of students willing to cross national boundaries in search of the best education, according to a new report.
Some 20 years ago there were only four countries in which more than half of the student age population attended university. Now there is 54, says the report from international student recruitment firm Hobsons Solutions.
It explains that the rise of a new global middle class fuelled by economic growth in emerging markets and shifting demographics has led to more young people than ever before seeking a university education.
This growth in demand for tertiary education has created a steady supply of international students for countries such as Australia, the UK, Canada, New Zealand, Germany and the United States.
This has profoundly affected the higher education market in every country. With more students than ever before going abroad to seek a university education, the motivations, preferences and characteristics of the global student body has undergone dramatic and widespread changes.
According to the report international students make a vital contribution to the culture, vitality and sustainability of universities and societies around the world. It also points out that international higher education has become a crucial export income generator for some of the world’s largest economies, generating more income than tourism for Australia or coal for Canada.
However, according to David Harrington, president of Hobsons Solutions, such growth and success is not guaranteed to continue. He explained that higher education is not immune to the type of fundamental disruption that other large, established industries have seen in the last decades, as a consequence of rapid technological developments and easier access to information.
“Universities therefore face challenges on multiple fronts. They need to diversify their intake of international students to reduce risk, they must rise to the challenge of increased competition with foreign universities, and they must respond to the threat of a more fundamental disruption to their model of learning,” he said, adding that the pressures include budgets and mind set.
Australia, which was the first nation to initially apply strategic thinking and develop an active approach to building a sector, remains at the forefront but now has to compete with the UK which has become its main competitor.
New Zealand, Canada and Germany have rapidly become innovators and serious competitors in the international student market and have introduced new policies for Post Study Work Rights (PSWR) and formed strong partnerships internationally. Despite starting years behind, they’re quickly catching up.
Harrington also explained that many former developing nations, countries that currently provide the bulk of internationally mobile students, are now swiftly developing world class higher education and training capabilities. “The rise of nations such as China and Malaysia as destinations for international students is disrupting the strategic intent of many seasoned players,” he said.
He added that while the sector has demonstrated its capacity to innovate and expand rapidly, now it needs to diversify as a failure to move forward risks falling enrolments, revenue and true cultural diversity on campus.
The report concludes that attracting students from more diverse backgrounds will reduce universities exposure to risk if a major disruptive incident were to occur. “A sector that once weathered the perfect global economic storm is now ripe for transformation. To survive and flourish through this period of transformation, universities need to make a quantum leap in their approach,” it says.
Some 20 years ago there were only four countries in which more than half of the student age population attended university. Now there is 54, says the report from international student recruitment firm Hobsons Solutions.
It explains that the rise of a new global middle class fuelled by economic growth in emerging markets and shifting demographics has led to more young people than ever before seeking a university education.
This growth in demand for tertiary education has created a steady supply of international students for countries such as Australia, the UK, Canada, New Zealand, Germany and the United States.
This has profoundly affected the higher education market in every country. With more students than ever before going abroad to seek a university education, the motivations, preferences and characteristics of the global student body has undergone dramatic and widespread changes.
According to the report international students make a vital contribution to the culture, vitality and sustainability of universities and societies around the world. It also points out that international higher education has become a crucial export income generator for some of the world’s largest economies, generating more income than tourism for Australia or coal for Canada.
However, according to David Harrington, president of Hobsons Solutions, such growth and success is not guaranteed to continue. He explained that higher education is not immune to the type of fundamental disruption that other large, established industries have seen in the last decades, as a consequence of rapid technological developments and easier access to information.
“Universities therefore face challenges on multiple fronts. They need to diversify their intake of international students to reduce risk, they must rise to the challenge of increased competition with foreign universities, and they must respond to the threat of a more fundamental disruption to their model of learning,” he said, adding that the pressures include budgets and mind set.
Australia, which was the first nation to initially apply strategic thinking and develop an active approach to building a sector, remains at the forefront but now has to compete with the UK which has become its main competitor.
New Zealand, Canada and Germany have rapidly become innovators and serious competitors in the international student market and have introduced new policies for Post Study Work Rights (PSWR) and formed strong partnerships internationally. Despite starting years behind, they’re quickly catching up.
Harrington also explained that many former developing nations, countries that currently provide the bulk of internationally mobile students, are now swiftly developing world class higher education and training capabilities. “The rise of nations such as China and Malaysia as destinations for international students is disrupting the strategic intent of many seasoned players,” he said.
He added that while the sector has demonstrated its capacity to innovate and expand rapidly, now it needs to diversify as a failure to move forward risks falling enrolments, revenue and true cultural diversity on campus.
The report concludes that attracting students from more diverse backgrounds will reduce universities exposure to risk if a major disruptive incident were to occur. “A sector that once weathered the perfect global economic storm is now ripe for transformation. To survive and flourish through this period of transformation, universities need to make a quantum leap in their approach,” it says.